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Explain the Cost accounting:
Meaning and definition:
Cost accounting is the process of accounting for cost which begins with the incurrence of cost and ends with the control of cost. In other worlds it is a formal systems of accounting by means of which costs of products services or activities are ascertained and controlled. The institute of cost and management accountants London defines costing as the techniques and process of ascertaining costs.
The institute of cost and management accountants, London has define cost accountancy as the application of costing and cost accounting principles methods and techniques to the science art and practice of cost control the ascertainment of profitability. It includes the presentation of information derived therefore for the purpose of managerial decision making.
The ICMA London has defined cost accounting as the process of accounting for cost which begins with the recording of income and expenditure and ends with the preparation of periodical statements and reports for ascertaining and controlling costs.
Prepare an estimation of working capital needs from the subsequent information of a trading relates with: (a) Projected Annual Sales 1,00,000
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areas where zero based budgeting can be effectively used?
how much is this service?
solution.
given the above data what would the breakeven in units and dollars be if u wanted a necessary after tax profit of $ 36,000 (assume a 30% tax rate ) units __________ ales dollars _
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